Nobody likes getting old, but it's a fact of life that we do and it's something that we each have to prepare for.
Most of us have a will in place to sort out our affairs after we die, but not many people put provision in place for someone to act on their behalf should they lose the capacity to make important financial or personal welfare decisions before death.
This is achieved by giving someone you know and trust Lasting Power of Attorney over your affairs, and Advance Accountants are here to help guide you through the process.
An LPA is a legal document that allows you to choose someone that you trust to make decisions on your behalf about things such as your property and financial affairs or your health and welfare, at a time in the future when you may lack the mental capacity to make those decisions. There are two types of LPA:
- A Property and Financial LPA is for decisions about finances, such as selling the Donor's house or managing their bank account; and once registered, can be used if you no longer wish to, or have lost the mental capacity to deal with them yourself.
- A Health and Welfare LPA is for decisions about both health and personal welfare, such as where to live, day-to-day care or having medical treatment, and once registered, can be used should you lose mental capacity.
A member of the Advance Accountants Milton Keynes team will be happy to answer any questions you may have regarding Lasting Power of Attorney, and we can provide you with a no-obligation quote for our LPA service.